Transcript: Bank of America 25 years old. Graduated from college with a degree in business. Currently working as a teller at a bank in the loop. Always needs cash, so he needs a lot of ATM locations. Wants a brand bank to impress the people. Does not want no small banks. Always looking for ways to earn "points" or "reward" when using his bank cards. Needs an account that does not have a minimum balance. There are a lot of locations of ATM's It is a brand named back it is not little. There are many ways in this bank to get points and rewards. You dont have to worry about minium balance at all you can have it or if you dont have too. He does not have to worry about taking out a amount of money he as no limitl. So he can take out as much money as he needs but the money that he as in his account. can get up to 3000 points on anything thats w this bank is good bank for my custimer 5% cash back on any thing more than $50 rewads are: Bank of America Thomas the bank has 4,7800 ATM loctions in the U.S The Bank for you! Chase 40,000 bouns rewards worth 500 in travel points The right back for you!
Transcript: Savings and CD'S Regular Savings: *Eligible with our Keep the Change® program with matching savings of up to $250 *No monthly fee with a monthly automatic transfer of at least $25 *Use for Overdraft Protection by linking to your checking account to help prevent declined transactions and overdraft fees Risk Free CD: *Enjoy the fixed return of a CD with penalty-free access to your money *9 month term with 0.30% APY *$5,000 minimum opening balance Featured CD: *A longer term savings solution with a fixed return *12 month term with 0.55% APY *$10,000 minimum opening balance *Tiered interest rates so you can earn more as your balance rises *Earn a rate bonus when you make a direct deposit or automatic transfer from your checking account of at least $250 each month *Unlimited withdrawals, deposits, and transfers at Bank of America ATMs and banking centers *Low $25 opening balance requirement *A source of overdraft protection for checking *Online Banking Rates *No monthly maintenance fee when you link to a Advantage with Tiered Interest Checking. Link opens in a new window. (fee waiver applies to first two linked money market accounts), or maintain a minimum balance of $2,500 or more in your account. Otherwise, the monthly maintenance fee is $12. eBanking: This type of checking account is better for people who do all their banking online. The monthly fee to have an account like this is $8.95 per month. MyAccess Checking: A full-service checking account that offers many choices and a bunch of different options. The monthly fee to have this type of account is $12.00. Advantage with Tiered Interest Checking: For customers who keep a high monthly balance. Monthly fees for this account is $25.00. Small Business checking bundle: The convience of opening both a personal checking account and a business checking account at once. $8.95 per month for personal eBanking checking and $14.00 per month for Business Economy Checking. *Investing: If i were to invest $1000 I would use an Ebanking account, the monthly fee is only about $9 and You can do it all on the internet. You also dont have to keep a balance of any specific amount. *For my savings i would use a regular savings account. There is no monthly fee as long as you are depositing at least $25 dollars a month. Checking accounts options A Growth Money Market Savings
Transcript: Debit card with total security protection 0 dollar liability guarantee All are FDIC insured up to applicable limits Debit cards and Reward cards Both $25 monthly fee with no other fees VS Organize your app What does Bank of America offer? Also: No fee for cashier's checks of money orders and no overdraft charges $12 Monthly fee with no other fees Checking Accounts Check for ATM and Banking locations Many ATM locations Use to check history Get alerts Use to look up account information Account access Transfer money from accounts Online Banking Safe Place keep your money Advantage Checking More for personal use only Bank of America Savings Accounts Check account details Accessible in Online Banking Mostly used for multiple accounts Low opening deposit Mobile App Pay bills Pay Bills 2 different types of checking accounts My Access Checking 4 different types of savings account
Transcript: Tired of Bank of America? "With a Regular Savings Account Glossary Term you can make three withdrawals Glossary Term or transfers each month from your account with no excess withdrawal fee. If your balance falls below $2500, an excess withdrawal fee will then apply to each withdrawal or transfer during the month, above three transactions. The maximum number of withdrawals per month is six, after that you may convert your savings account into a checking account Glossary Term." This basically means that if you transfer money from and to your accoutn more than 3 times you will be charged. It's the smalle things like this that angers a customer. I have had this fee accesed to me over 7 times since I have been with BofA. Bank of America has transformed itself into the largest bank in America which its assets over $2.3 billion dollars. But over the past decade BofA has created many problems for consumers such as myself. An example of this is that they placed a $5 fee on credit and debit card accounts. Even if you barely used the card you would be accesed this annoying fee.
Transcript: Contributed to the building of the Hoover Dam and Golden Gate Bridge during the Great Deppression Total profit in 2009 was $6.3 billion Total profit in the 1st quarter of 2010 was $3.2 billion Has clients in over 150 countries Owns Carolina Panthers football stadium Deposit balances were up $44 Billion since last year Bank Of America is currently the nations LARGEST bank Bank Of America By Brett Pittman Brad Walter Dennis Seiger
Transcript: Future of ATMs -Marketing Automated marketing system VALEX Commercials and online ads for credit cards -Service Online Banking customer service ATM services Competitors -Bank of America has the most well known use of this IT system -Deposit image technology Fast Reliable Verified Convenient Future Initiatives -Mobile App Available for Android, Apple, and Blackberry phones Examples of IT Use Strategic IT Advantages and Benefits Mobile and Online Banking -Bringing the Bank to the Customer to help with balance inquiries, money transferring, and bill paying (above-the-line initiative) -Creating the frequency of paperless transactions and the ability to transfer money without a teller (below-the-line, taking the physical bank out of the equation) Would allow your mobile banking to be secure even if you had lost your phone ATM -no reason for customers to use a bank teller (below-the-line initiative) (above-the-line as well) Locate high-powered ATMs in colleges nationwide -lure new, young, customers to Bank of America (above-the-line) Examples of IT Use Strategic IT Advantages and Benefits -Near field Communication in your phone Bank of America Presentation Overview -Small Business Online Community Launched in 2007 social network for small business owners Connect with other small business owners, receive advice, and share stories IT within Value Chain Future Initiatives ATM Depositing -Top Three Competitors JPMorgan Chase Citibank Wells Fargo -Options for banking sets them apart from the other banks ATM can do everything at an ATM without ever having to use a teller Online Banking Texting for non-SmartPhone users App on SmartPhones Data-Mining -assess risks involved with home loans, insurance, and online banking (below-the-line, financial crisis ring a bell?) Future Initiatives Security -Bank of America becoming a Phone company -Online Banking SiteKey +Personalized picture and phrase unique to each username SafePass +Authorize transactions using one-time 6 digit passcode ShopSafe +Creates a temporary credit card number when shopping online -Biometric Scanning Future Initiatives Mobile Banking Doug D'Angelo Kate Kacani Kevin Martins Natalie Wozniak Strategic IT Advantages and Benefits Examples of IT Use Combining the Biometrics and the NFC technology to allow smart-devices to use your identity as a pin number or password. Strategic IT and Its Benefits Examples of IT Competition ATM In-Depth Value Chain Future Initiatives -Security -Mobile Banking
Transcript: DECISION CRITERIA CONCLUSION Option 3 = Process checks in chronological order first written-first processed OPTIONS Process checks from higher to lower amounts OPTION 3 Short-term profitability Long-term sustainability and growth potential Customer satisfaction Ethical responsibility By Ruben Soto December 3, 2013 BANK OF AMERICA Case Study Presentation -INTRODUCE CURRENT ISSUE -REVIEW OPTIONS -DESCRIBE CRITERIA -RECOMMEND CONCLUSION OPTION 1 CURRENT ISSUE -Customer loyalty Ensured -Sustainability and Growth Potential -Ethically Responsible BANK OF AMERICA Case Study Presentation OPTION 2 RUBEN SOTO THANK YOU RECOMMENDATION Process checks in chronological order first written-first processed Banks, industry wide, have been processing checking transactions from largest amount to smallest amount. This maximizes profits associated with NSF charges. Option 1 - Process checks from lower to higher amounts. Option 2 – Process checks from higher to lower amounts. Option 3 – Process checks in chronological order. AGENDA Process checks from lower to higher amounts
Transcript: Bank of Opportunity They've installed dye packs, bullet resistant bandit barriers, mantraps with weapons detection capabilities, high-tech digital surveillance systems that expedite transfer of photos to police, and instituted additional professional training for banking center associates. In some high risk areas they've also deployed professionally trained, armed security officers. And they've seen robberies in the greater Los Angeles area drop to 24 in the last six months of last year from 77 during the same months the year before.” U.S Security Code Website GSA Security officer Training Bank of America Security applicants must Become an armed security officer for the United States government. Learn about federal policies relating to firearms safety. Reviewcrucial regulations governing the use of force. Discover the various components of a firearm. Familiarize yourself with fundamental skills, such as weapon drawing, firing in the dark, and targeting from kneeling, standing, and covered positions. Practice these skills during real exercises at the firing range, and then attempt to qualify to work on federal contracts The Bank of America The Bank of America has produced its very own alarm system for use within their branch walls. Merrill Lynch says: "With over 10 years of experience advising companies in the security alarm industry we provide our clients with insight and proactive solutions. Whether a company provides commercial or residential security systems, is privately or publicly held, we have the industry experience and resources to help our clients succeed. As America’s number one middle-market bank and cash management provider, your dedicated team of industry specialists can deliver customized solutions to meet the unique needs of the security alarm industry" Alarm system https://www.bankofamerica.com/ Fighting back With a well rounded line of Robbery defense, Bank of America is well prepared for the majority of armed assaults. Within six months from July 7, 1968, each Federal supervisory agency shall promulgate rules establishing minimum standards with which each bank or savings and loan association must comply with respect to the installation, maintenance, and operation of security devices and procedures, reasonable in cost, to discourage robberies, burglaries, and larcenies and to assist in the identification and apprehension of persons who commit such acts. Thank you for your attention!
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